Seaman Paper Europe Limited - Accounts to registrar (filleted) - small 18.2

REGISTERED NUMBER: 07163257 (England and Wales)

UNAUDITED FINANCIAL STATEMENTS

FOR THE YEAR ENDED 30 JUNE 2020

FOR

SEAMAN PAPER EUROPE LIMITED

Page

Company Information

1

Balance Sheet

2

Notes to the Financial Statements

4

DIRECTORS:

G Jones

J Jones

SECRETARY:

Ellis Atkins Secretaries Limited

REGISTERED OFFICE:

1 Paper Mews

330 High Street

Dorking

RH4 2TU

REGISTERED NUMBER:

07163257 (England and Wales)

ACCOUNTANTS:

Ellis Atkins

Chartered Accountants

1 Paper Mews

330 High Street

Dorking

Surrey

RH4 2TU

CURRENT ASSETS

Stocks

72,235

61,802

Debtors

4

17,198

28,262

Cash at bank

42,911

50,177

132,344

140,241

CREDITORS

Amounts falling due within one year

5

203,258

196,103

NET CURRENT LIABILITIES

(70,914

)

(55,862

)

TOTAL ASSETS LESS CURRENT LIABILITIES

(70,914

)

(55,862

)

CAPITAL AND RESERVES

Called up share capital

2

2

Retained earnings

(70,916

)

(55,864

)

SHAREHOLDERS' FUNDS

(70,914

)

(55,862

)

The company is entitled to exemption from audit under Section 477 of the Companies Act 2006 for the year ended 30 June 2020.

The members have not required the company to obtain an audit of its financial statements for the year ended 30 June 2020 in accordance with Section 476 of the Companies Act 2006.

The directors acknowledge their responsibilities for:

(a)	ensuring that the company keeps accounting records which comply with Sections 386 and 387 of the Companies Act 2006 and

(b)

preparing financial statements which give a true and fair view of the state of affairs of the company as at the end of each financial year and of its profit or loss for each financial year in accordance with the requirements of Sections 394 and 395 and which otherwise comply with the requirements of the Companies Act 2006 relating to financial statements, so far as applicable to the company.

The financial statements have been prepared and delivered in accordance with the provisions applicable to companies subject to the small companies regime.

In accordance with Section 444 of the Companies Act 2006, the Statement of Income and Retained Earnings has not been delivered.

The financial statements were approved by the Board of Directors and authorised for issue on 15 June 2021 and were signed on its behalf by:

G Jones - Director

J Jones - Director

1.	STATUTORY INFORMATION

Seaman Paper Europe Limited is a private company, limited by shares , registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

2.	ACCOUNTING POLICIES

Basis of preparing the financial statements

These financial statements have been prepared in accordance with Financial Reporting Standard 102 "The Financial Reporting Standard applicable in the UK and Republic of Ireland" including the provisions of Section 1A "Small Entities" and the Companies Act 2006. The financial statements have been prepared under the historical cost convention.

The accounts have been prepared on the going concern basis on the assumption that the company will continue to receive financial support from its main creditor and the shareholders.

At the balance sheet date the company's liabilities exceeded its assets. Having received assurances of continued support the Directors consider it appropriate to prepare the accounts on this basis.

Turnover

Turnover is measured at the fair value of the consideration received or receivable, excluding discounts, rebates, value added tax and other sales taxes.

Stocks

Stocks are valued at the lower of cost and net realisable value, after making due allowance for obsolete and slow moving items.

Taxation

Taxation for the year comprises current and deferred tax. Tax is recognised in the Statement of Income and Retained Earnings, except to the extent that it relates to items recognised in other comprehensive income or directly in equity.

Current or deferred taxation assets and liabilities are not discounted.

Current tax is recognised at the amount of tax payable using the tax rates and laws that have been enacted or substantively enacted by the balance sheet date.

Deferred tax

Deferred tax is recognised in respect of all timing differences that have originated but not reversed at the balance sheet date.

Timing differences arise from the inclusion of income and expenses in tax assessments in periods different from those in which they are recognised in financial statements. Deferred tax is measured using tax rates and laws that have been enacted or substantively enacted by the year end and that are expected to apply to the reversal of the timing difference.

Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

3.	EMPLOYEES AND DIRECTORS

The average number of employees during the year was NIL (2019 - NIL).

4.

DEBTORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade debtors

17,198

28,262

5.

CREDITORS: AMOUNTS FALLING DUE WITHIN ONE YEAR

2020

2019

£

£

Trade creditors

7,961

8,000

Taxation and social security

4,014

9,917

Other creditors

191,283

178,186

203,258

196,103